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Type of retirement account works

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Reference no: EM132900989

Regarding a Registered Retirement Income Fund (RRIF), which of the following statements is not true about how this type of retirement account works?

1. The owner can accumulate additional retirement savings within the account as a result of investment earnings
2.With low rates of return on assets in the account, withdrawals from the RRIF could erode the capital base of the account
3. RRIFS provide the owner with a guaranteed level of income throughout their lives
4. The owner is prevented from accumulating additional capital restricting new, regular, tax-deductible contributions

Reference no: EM132900989

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